House Energy & Commerce Committee Hearing Highlights How Biosimilars Can Save Patients Money
WASHINGTON, D.C. (September 19, 2019) – Today, the House Energy & Commerce, Subcommittee on Consumer Protection and Committee held a hearing that took a look at the ways in which some companies are ‘gaming the system’ to keep biosimilars out of the market. The Biosimilars Forum issued the following statement in response:
As this country’s second generation of lower-cost drugs, biosimilars have the potential to save taxpayers and seniors billions in health care costs. However, anticompetitive practices are stifling competition and blocking patient’s access. In fact, use of biosimilars in the U.S. has been low and show that biologics continue to monopolize the market.
We were encouraged to hear the House Energy & Commerce Committee highlight how biosimilars can save patients money and discuss ways in which Congress can increase use of these important therapies, including sharing savings with physicians as Jeff Francer of the Association for Accessible Medicines mentioned. We encourage Congress to coordinate with agencies, such as the FTC, on enforcement against anti-competitive practices. Additionally, the administration, Congress and the FDA can consider enacting simple reforms that would increase use of these lower-cost therapies in order to create a healthier, more competitive biosimilars marketplace and save billions in U.S. health care costs.